CSU Board of Trustees Approves SDSU Mission Valley Final Environmental Impact Report (FEIR), Financing Plan
CSU green lights a major milestone for the project, which aims to break ground early this year.
The California State University (CSU) Board of Trustees today certified San Diego State University’s Final Environmental Impact Report (FEIR) for the university’s campus expansion in Mission Valley. Additionally, the board approved SDSU’s financing for the property acquisition and initial stage of construction including the site infrastructure and river park.“This is a significant milestone for our future development of SDSU Mission Valley which represents an unprecedented opportunity to expand and transform San Diego State University.”
The certified FEIR is a product of more than a year of planning and research, dozens of public meetings and presentations to local planning groups, and productive convenings of the River Park Advisory Group. The FEIR identifies the environmental impacts of the project and ensures appropriate mitigation.
“This is a significant milestone for our future development of SDSU Mission Valley which represents an unprecedented opportunity to expand and transform San Diego State University,” said SDSU President Adela de la Torre. “This day is the culmination of extensive work by SDSU and CSU staff, the City of San Diego and the many supporters of SDSU Mission Valley who recognized this as an invaluable opportunity for SDSU to expand and better serve its academic mission and the community.” “I am pleased and gratified by the CSU Board of Trustees’ unanimous action to certify the FEIR and to move toward execution of the purchase agreement,” said Adam Day, Chair of the CSU Board of Trustees. “I am confident that the Mission Valley project will prove transformative for SDSU and its students, and I believe the Board’s unanimity reflects the fact that the goals of the project so closely track the broader mission and ideals of the CSU.”
To set the stage for the long-term site development through public-private partnerships (P3s), the CSU Board of Trustees approved an initial investment of $350 million by CSU and SDSU, with long-term repayment coming primarily from public-private partnership ground lease revenues. With these approvals, SDSU will now continue its work to negotiate and finalize the purchase and sale agreement with the City of San Diego. The Board authorized the CSU Chancellor to execute a purchase agreement that is consistent with SDSU’s written offer to the City. “The Mission Valley project has enormous potential to enhance virtually every aspect of the SDSU student experience: education, research, creative activity, and personal and academic discovery,” said CSU Chancellor Timothy P. White. “I look forward to further engaging with the City of San Diego as we work expeditiously to finalize and execute the purchase agreement.” At yesterday’s committee meeting, San Diego Mayor Kevin Faulconer spoke in support of the item and to his excitement for SDSU Mission Valley.
“We are within grasp of a modern multi-use stadium, a world-class river park for all San Diegans to enjoy and a world-class education and research hub to ensure the SDSU legacy lives on for generations to come,” said Mayor Faulconer. “Today we take another step toward bringing that vision to life.”
Upon full build-out, the proposed Mission Valley campus will provide academic and research space in a modern Innovation District, supporting up to 15,000 full-time equivalent students over time. The site will also house other campus- and community-supporting facilities, a 35,000-capacity multi-purpose stadium, housing, retail, hotel and conference facilities, and 80 acres of community parks and open space, including an expansive 34-acre River Park. To set the stage for the long-term development of the site through public-private partnerships, the CSU Board of Trustees also approved an initial investment by CSU and SDSU utilizing campus and system non-operating resources. The property acquisition and site infrastructure development, including the construction of the River Park, will be financed through a combination of system debt and campus and auxiliary resources with long-term repayment coming primarily from public-private partnership ground lease revenues.
For more information about SDSU Mission Valley, and to view the FEIR in detail, please visit missionvalley.sdsu.edu.
